SGX M42F Thermal Coal - Daily Update 29 October 2020

10kt traded in the Thursday T session

    Nov-20 traded 5kt @ $29.00

    Jan-21 traded 5kt @ $30.40

October month-to date:

Futures Volume at a record 638kt, Open interest at 628kt

Total volume since January 2020: 3,361kt

 

Physical

Prices for November loading low-rank shipments were easing according to participants, although there was an expectation that Chinese power plants may start to come out soon seeking December loading shipments. A couple of deals were reported done at $28.50/t FOB, basis 3,800 kc NAR, for November loading geared vessels. Another deal was said to have concluded at slightly below this level, although this could not be confirmed at the time of writing. Offers were heard at $28.50-29.50/t FOB, basis 3,800 kc NAR, for November loading geared vessels, although bids were said to be scarce. A market for a December loading geared vessel was heard bid at $28.50/t FOB, basis 3,800 kc NAR, against an offer at $31.00/t FOB, same basis.

 

Paper

M42 traded via SGX at $29.00 for November, down on $29.35 the previous day, and $30.40 for January 2021, which is the first transaction for a 2021 product. Earlier in the day, M42 was bid for November at $29.00 and offered at $29.45, while December was bid at $30.20 and offered at $30.60. Further out, January was bid at $30.40 and offered at $31.00, while February was offered at $31.75 and March was offered at $32.00. A spread for November vs December was reported bid at M42 minus $1.40 against an offer at minus $1.05.

 

Source: IHS Markit